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  • Holiday Lets

    Holiday lets next for digital tax reporting

    Thought some of you may like to read this:-

    Landlords with furnished holiday lets have been invited to take part in HM Revenue & Customs’ digital trials in a hint that they may be among the first businesses required to submit tax details online from 2021.

    More than one million sole traders and landlords can join tests of the Making Tax Digital system for filing income tax accounts in the 2019-20 tax year.

    Alex Foster, a tax partner at RSM, an accountancy firm, says: “Making tax digital for income tax seemed to have been kicked into the long grass when it was announced that it would not come in until 2021 at the earliest. Yet a new pilot scheme involving landlords suggests that the idea is very much alive.”

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